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Dec 12, 2012
12/12
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. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social security and the republicans on have to support increase in tax rates for the wealthy. of course you were playing a lot of clips from people open to compromise. it does seem to be the broad parameter that want a balanced deal. that's what john boehner and president obama are currently arguing about. par are it's interesting, mark. you and the team noted the confusion, if you want. maybe because of the leadership. the headlines and the ap has the headline fiscal cliffs appear to be stalled and the hill's headline edge towards the deal and deficit reduction negotiations. are both true? >> both are true and you
. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social security and the republicans on...
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Dec 12, 2012
12/12
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FOXNEWSW
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. >> some say it's not the end of the world if we go over the fiscal cliff but some say it could thrust us back into recession. what do you think will happen? >> i don't think there's a cliff in the sense that all of a sudden tomorrow something dramatic happens. i think stock markets sometimes react quickly, but for the most part, whether it's going to be a recession or not is a much more long, drawn-out process. but i would say that it's not a good idea to raise anyone taxes and that the marketplace does not differentiate whether you take the money from rich people, poor people or middle class. the marketplace says if you are going to take $800 billion, are you taking it out of the private sector, the productive sector, and are you going to give it to the nonproductive sector in washington? basically the sector of people who are always messing up things in the marketplace? are you going to do that? if you are going to do that, it's a bad idea no matter whether it's rich people, middle class or poor. doesn't matter. if you take money out of the private sector, it's a bad idea. >> well,
. >> some say it's not the end of the world if we go over the fiscal cliff but some say it could thrust us back into recession. what do you think will happen? >> i don't think there's a cliff in the sense that all of a sudden tomorrow something dramatic happens. i think stock markets sometimes react quickly, but for the most part, whether it's going to be a recession or not is a much more long, drawn-out process. but i would say that it's not a good idea to raise anyone taxes and...
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Dec 12, 2012
12/12
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cliff. while that's going on and will keep going on for a while, your united states senate is haggling over something that might be even more important to the health of the republic, at least if in the future we want to, i don't know, solve any problems ever. i'm speaking, of course, of that great scourge the filibuster. that senate only rule that allows any senator in the majority or the minority to force legislation to pass not by the standard 51 votes, but by 60. which for most bills means certain death. rarely do 60 senators agree on anything. and over the last few years, the use and abuse of the filibuster, mainly but not exclusively by republicans, has reached record-breaking senate stopping heights. so what do you do? if you are harry reid, lead other telephone democrats in the senate, you try to reform it. and if you're mitch mcconnell, the republican leader who is using it all the time because it is your main kind of power you try to stop reform of it. now there are a couple of plan
cliff. while that's going on and will keep going on for a while, your united states senate is haggling over something that might be even more important to the health of the republic, at least if in the future we want to, i don't know, solve any problems ever. i'm speaking, of course, of that great scourge the filibuster. that senate only rule that allows any senator in the majority or the minority to force legislation to pass not by the standard 51 votes, but by 60. which for most bills means...
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Dec 12, 2012
12/12
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what is it going to take you know, here on capitol hill to actually get something done to avoid the fiscal cliff. >> and what's going on in those negotiations that we don't know. >> exactly. so we going to talk to the man who may know right? >> the man who's wired in washington. >> exactly. bob woodward knows the white house and he's covering washington for years. he'll be on later this morning. >> announcer: this portion of "cbs this morning" sponsored by international delight coffee creamers. what's your i.d.? who thinks two is better than one? so all of you do. yes, for sure. now what's better? being able to shoot two lasers out of both of your eyes at the same time or just one laser out of one eye? [ all kids ] two! [ moderator ] okay, why? if it's just one beam -- okay, it does a little bit of damage. two beams -- it will make something explode! and that's more fun? yeah! and it's more powerful you're saying? yeah! [ male announcer ] it's not complicated. doing two things at once is better. and only at&t's network lets you talk and surf on your iphone 5. ♪ ♪ online outfit piccolo
what is it going to take you know, here on capitol hill to actually get something done to avoid the fiscal cliff. >> and what's going on in those negotiations that we don't know. >> exactly. so we going to talk to the man who may know right? >> the man who's wired in washington. >> exactly. bob woodward knows the white house and he's covering washington for years. he'll be on later this morning. >> announcer: this portion of "cbs this morning" sponsored...
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Dec 12, 2012
12/12
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so that may have something to do with the fiscal cliff. there's a bit of a slowdown there. the economy is moving along, not as robustly as they'd like it to be, which is why they extend this to make money cheaper. >> what does that mean for businesses in terms of confidence? >> the first gauge we get is to see how markets are doing. there's a bit of a rally on the stock market as a result. you can never trust what happens immediately after these announcements because it could be traders doing things. dow subpoena a quarter there. you can see 27 basis points right now. what it means is the same thing it meant until now. we have long-term low interest rates. it's cheap to borrow money in america. it's not necessarily easy it to borrow money. lending standards are still high, and many businesses as we have seen that either have cash or access to credit are not making decisions until they have some certainty about what government is going to do. we may get that certainty as soon as we get a fiscal cliff deal, maybe january or february by the time we know what will happen. that
so that may have something to do with the fiscal cliff. there's a bit of a slowdown there. the economy is moving along, not as robustly as they'd like it to be, which is why they extend this to make money cheaper. >> what does that mean for businesses in terms of confidence? >> the first gauge we get is to see how markets are doing. there's a bit of a rally on the stock market as a result. you can never trust what happens immediately after these announcements because it could be...
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Dec 12, 2012
12/12
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those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making less than $200,00200,000a year, my plan won't raise your taxes one opiniony. not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes." that's what the president said. but once he got into office, president obama arranged for his health care plan to be written behind closed doors. democrats in congress passed it, and they did it strictly along party lines. this law has included more than 20 different tax increases. these tax increases amount to more than a trillion dollars over the next ten years. of those, a dozen taxes specifically targeted middle-cl
those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making...
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Dec 12, 2012
12/12
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CNNW
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so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a major blow to the airline industry as well as the economy if these cuts are in effect. now, overall, we're talking about a nearly $2.2 billion projected cut to the department of transportation. half of that would come from the faa, and the tsa would suffer a $643 million spending cut. so according to the head of the tsa, they do have a plan b. they have a plan in place ready to go if these cuts are in place. now, he says that the overall front line operations would not be effective, but this would be a major severe budget cut and a lot of travelers here we spoke to, brooke, say they are paying close attention to the negotiations. >> it does concern me because, yes, i do travel not extensively, but enough on m
so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a major blow to the airline industry as well as the economy if these cuts are in effect. now, overall, we're...
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Dec 12, 2012
12/12
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we're in this fiscal cliff talks and the president and the speaker are trying to work out a solution. and they're talking about tax raters in top 2%. mr. cohen: taxing their wealth. that's something they should do because it's fair and it gives the over 98% tax relief. but at the same time they're talking about increasing the medicare age from 65 to 67. and that's taxing the wealth of the less fortunate people who are 65 to 67. for them and for everybody, your health is your wealth. jimmy copeland a friend and semiphilosopher said that, your health is your wealth. if you raise the medicare age from 65 to 67, you're going to sacrifice the health of people who are not the most fortunate system of while we tax the income of the most wealthy, we'll be taxes what wealth theless wealthy have, their health. that's wrong. mr. president and mr. speaker should not increase that age and tax the poor. thank you, mr. speaker. the speaker pro tempore: for what purpose does the -- does the gentlelady from texas seek recognition? ms. jackson lee: i ask unanimous consent to address the house for one m
we're in this fiscal cliff talks and the president and the speaker are trying to work out a solution. and they're talking about tax raters in top 2%. mr. cohen: taxing their wealth. that's something they should do because it's fair and it gives the over 98% tax relief. but at the same time they're talking about increasing the medicare age from 65 to 67. and that's taxing the wealth of the less fortunate people who are 65 to 67. for them and for everybody, your health is your wealth. jimmy...